Chipmaker Intel Corp said it has agreed to buy networking products maker QLogic Corp's InfiniBand assets for $125 million in cash to strengthen its networking and high-performance computing capabilities.

According to a Times of India repo, the deal is expected to close within the current quarter.

"This acquisition is designed to enhance Intel's networking portfolio and provide scalable high-performance computing fabric technology," Intel said in a statement.

Intel said it expects a significant number of InfiniBand employees to join it.

QLogic said it expects the deal's impact on earnings per share to be neutral.